Giji John, Rohit Sachdev, Les Sherman, David Spielberg | Orrick
Corporate and industrial buyers have dramatically increased their purchases of renewable energy in recent years, with contracted capacity under corporate power purchase agreements (PPAs) doubling year-over-year from 2012 to 2015.
George Favaloro | Managing Director at PwC Sustainable Business Solutions
The growth of the renewable energy marketplace in the last 24 months has been breathtaking. Billions of dollars have been invested in building renewable generating capacity, which is in turn, lowering costs and creating more demand.
If you thought 2015 was the year of the sun— get ready to see solar power break some more records. The US solar market shows no signs of slowing down, and appears to be on track for another record shattering year amid falling prices and an uptick in installations.
Leaders from a State that is itself leading thought and action in growing the contributions of renewable energy, reducing carbon emissions, and re-forming the entire utility-customer interface, met last week at beautiful Marist college in Poughkeepsie for spirited and constructive discussion about how to enable, unfetter and facilitate free market, competitive solutions that will help to achieve the goals we share.
Google just signed an agreement that will enable them to acquire 235 megawatts of renewable energy from wind farms in Sweden and Norway respectively. The announcement builds on the significant number of power purchase agreements (PPAs) Google signed last year, accounting for a whopping 842 megawatts of renewable energy used for powering the company’s global data centers.
Closures like the San Onofre and Diablo Canyon power plants in California may throw a wrench in state plans to lower emissions. A recent Forbes article points out many modern environmentalists are reluctant to pull the plug on the Diablo Canyon plant.
A recent report by PwC confirms the marked change we’ve seen over the past few years in the renewable energy sector, particularly with commercial and industrial companies. After years of stagnation, attacks from climate change deniers, and naysayers citing high prices as an immovable barrier, it appears renewables have finally made it.
Going green is going mainstream. Deloitte’s sixth annual “Resources 2016 Study” shows a dramatic shift in how consumers, both corporate and residential view environmental responsibility. The report points out the change taking place is likely due to this idea that a collective goal to reduce emissions is now “ingrained” in our culture, despite this year’s plummeting gas prices. The change can be attributed to the rising influence of the millennial generation, who have been warned against the adverse effects of climate change for most of their lives.
With the CDP Climate Change reporting deadline less than two weeks away (June 30), reporting organizations are deep into the 2016 questionnaire. This year, CDP has made some material changes to its questions in order to line up with the GHG Protocol’s Scope 2 guidance —released in 2015—and to place greater emphasis on climate action.
Responding to CDP in 2016? If so, you’ve probably seen that CDP has increased its emphasis on the value of climate action and how that translates into disclosure leadership. CDP respondents are now being asked to set science-based goals and utilize renewable energy to take an active role in reducing—rather than just reporting—emissions, and related environmental impact.